Rising Trend in New Housing Consents Continues

In October 2006 building consents were issued for 2,377 new housing units, 476 more than during the previous October, Statistics New Zealand said today.

There were 373 apartment units authorised in October 2006 (with 317 in the Auckland region), compared with 493 in September and 266 in August. Apartment units accounted for 16 percent of all new housing units authorised in October, compared with a monthly average of 14 percent for the year prior to October 2006.

Thirteen of 16 regions authorised more new housing units in October 2006 than in October 2005. Auckland recorded the largest increase, while the Bay of Plenty recorded the largest decrease. There were increases in both the North and South Islands.

The value of consents issued for residential buildings in October 2006 was $669 million, 20 percent higher than in the previous October. The trend for the value of residential buildings has been increasing since March 2006.

For non-residential buildings, the value of consents issued in October 2006 was $330 million, 7 percent higher than in October 2005. Social, cultural and religious buildings showed the largest increase, while hospitals and nursing homes showed the largest decrease.